Kalpataru Limited has announced the resignation of Mr. Abhishek Thareja from his position as Company Secretary and Compliance Officer, marking a significant change in the company's key managerial personnel. The resignation becomes effective from the close of business hours on December 12, 2025.

Resignation Details

The company informed the National Stock Exchange of India Limited and BSE Limited about this development under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notification was made in accordance with industry standards and SEBI listing regulations.

Key Information

Mr. Thareja submitted his resignation letter on September 10, 2025, providing the company with adequate notice period before his departure. In his resignation letter, he specifically mentioned his intention to pursue entrepreneurial opportunities and personal aspirations as the primary reasons for leaving his current role.

The departing Company Secretary has requested the company to file necessary forms with the Registrar of Companies, Ministry of Corporate Affairs, and submit intimation to the Stock Exchanges as part of the standard resignation process.

Regulatory Compliance

Kalpataru Limited has ensured full compliance with regulatory requirements by providing detailed information as mandated under SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The company has also made the resignation letter available as per clause 7C of Para A of Part A of Schedule III to the SEBI Listing Regulations.

Acknowledgment and Future Outlook

In his resignation letter, Mr. Thareja expressed sincere gratitude to the Board of Directors for their unwavering support and cooperation throughout his tenure. He extended his best wishes to the company for continued growth, success, and future endeavors. The information has been disseminated on the company's official website at www.kalpataru.com for public access and transparency.

Kalpataru , a prominent Mumbai-based real estate developer, has reported robust financial performance for the first half of fiscal year 2026 (H1 FY26), showcasing strong growth in pre-sales and collections. The company, which recently became listed, held its first earnings call to discuss its financial and operational performance.

Strong Pre-Sales and Collections Growth

Kalpataru achieved pre-sales of Rs. 2,577.00 crores in H1 FY26, marking a significant 43% year-on-year growth. Collections reached Rs. 2,308.00 crores, reflecting a 37% increase compared to the same period last year. The company's quarterly pre-sales for Q2 FY26 stood at Rs. 1,329.00 crores, up 19% year-on-year.

Financial Highlights

The company's net debt improved from Rs. 9,310.00 crores at the end of FY25 to Rs. 8,025.00 crores, reducing the net debt-to-equity ratio from 3.8x to 2.0x.

Project Launches and Performance

During Q2 FY26, Kalpataru launched two significant projects:

1. Kalpataru Estella at Park City Thane: Spread across 12 acres, featuring eight towers with a six-acre podium and 74% open space.
2. A new tower at Srishti Namaah in Mira Road.

The company's flagship luxury project, Kalpataru One at Worli, generated Rs. 720.00 crores in sales during H1 FY26.

Future Outlook

Kalpataru maintains a strong growth outlook for FY26:

• Pre-sales guidance of Rs. 7,000.00 crores (approximately 55% year-on-year growth)
• Collections guidance of Rs. 5,700.00 crores (about 56% year-on-year growth)
• Expected net debt reduction to around Rs. 7,300.00 crores by year-end

Management Commentary

Parag Munot, Managing Director of Kalpataru, expressed confidence in the company's performance and future prospects. He highlighted the strong demand for premium lifestyle housing in their micro-markets and the company's focus on design excellence, customer centricity, and quality construction.

Chandrashekhar Joglekar, Director - Finance and CFO, emphasized the company's efforts to optimize finance costs through refinancing options, which could potentially result in annual interest savings of Rs. 50.00-75.00 crores.

Conclusion

Kalpataru's strong H1 FY26 performance, coupled with its robust project pipeline and strategic focus on premium markets, positions the company well for continued growth. The management's confidence in meeting full-year targets and improving the company's financial profile suggests a positive outlook for the real estate developer in the coming quarters.